Flat Tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.

Read more about Flat Tax:  Requirements For A Fully Defined Schema, Recent and Current Proposals

Famous quotes containing the words flat and/or tax:

    “For the Eye altering alters all;
    The Senses roll themselves in fear
    And the flat Earth becomes a Ball.”
    —William Blake (1757–1827)

    “Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
    —Sébastien-Roch Nicolas De Chamfort (1741–1794)